UK FCA trials Palantir Foundry on its data lake for financial-crime work

The UK Financial Conduct Authority is running a three-month trial of Palantir's Foundry platform on its internal data lake to look for fraud, money laundering and insider trading, according to The Register's March 23, 2026 report. The trial is reported at more than £30,000 a week, and the FCA says Palantir acts only as a data processor with UK hosting and FCA-held encryption keys. Privacy critics have challenged the arrangement.

• Three-month trial of Foundry on the FCA internal data lake
• Reported cost more than £30,000 per week
• FCA says Palantir is a data processor; data hosted in the UK
• Privacy concerns raised by critics; small revenue impact